Parallex Bank Gets CBN’s Approval for NESS Collection

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In the financial sector, Parallex Bank Limited has announced that the Central Bank of Nigeria (CBN), has granted its approval for the collection of Nigeria Export Supervision Scheme (NESS) fees.

The NESS Fee is a mandatory payment to the Federal Government for all legitimate goods exported from Nigeria, which includes non-oil and oil-based products.

The Bank quoted a circular signed by Dr. W.J. Kanya on behalf of the Director of the Trade and Exchange Department at Central Bank, which reveals that it has been added to the roster of approved banks authorised to collect NESS fees.

Speaking on the approval, Managing Director of Parallex Bank Limited, Dr. Olufemi Bakre, expressed his satisfaction and excitement towards this milestone, and encouraged all authorised exporters to leverage Parallex Bank’s extensive banking expertise and consider the bank as their preferred financial partner.

Bakre assured exporters of seamless services when it comes to the paying of their NESS fees, and conducting several other transactions with the bank. He further extended his appreciation to the CBN for recognising Parallex Bank as a trustworthy partner to collaborate with the federal government.

Parallex Bank transitioned into a commercial bank from a microfinance bank in early 2022. As of September 2023, the bank has opened five new branches across the country and said that 12 new branches will be added before the end of the year.

 

 

 

 

 

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